Sumary of Price hike on basic goods looms:
- Noche Buena products, however, are not considered basic goods and therefore not regulated by the DTI.
- The Noche Buena Price Guide listed a total of 12 products comprising a total of 223 SKUS.
- Basic goods include canned sardines, processed milk, coffee, bread, instant noodles, salt, detergent soap, bottled water, and candles, while prime commodities include meat loaf, beef loaf, corned beef, soy sauce, vinegar, fish sauce, toilet soap, and battery.
- On Wednesday, Nov 23, the DTI published the Noche Buena Price Guide as consumers begin to purchase food items normally consumed during the Christmas holidays.
- Trade and Industry Secretary Alfredo E Pascual has hinted of a likely increase in the suggested retail prices (SRP) on basic necessities and prime commodities (BNPCs).
- Based on the Price Guide, a total of 195 SKUs out of 223 Noche Buena products have raised prices with almost half increased their prices by more than 10 percent and the rest with minimal hikes of one to 10 percent on higher cost of imported and local materials, packaging and overhead costs.